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Westpac has hit back at a bid by ASIC to add an allegation to the regulator's insider trading case that hinges on the bank providing financial services when it traded on the morning of a $16 billion deal to privatise electricity provider Ausgrid.
A law firm has won its second bid for a group costs order in three class actions against banks over flexible commission schemes after a judge in 2021 rejected what was then the first-ever application for a contingency fee.
Maurice Blackburn has had a second crack at a group costs order in three class actions against banks over alleged flexible commission schemes after a judge in 2021 rejected what was then the first-ever application for a contingency fee.
Westpac has told a court that it is “inconceivable” that Forum Finance directors Bill Papas and Vince Tesoriero and funded their lavish lifestyles legitimately, as trial kicked off in the bank’s $400 million fraud case against the Forum companies.
Westpac has agreed to pay $29.95 million to settle a class action alleging subsidiaries BT Funds Management Limited and Westpac Life Insurance Services Limited charged customers excessive superannuation fees between 2007 and 2019.
Westpac has lost a bid to keep group members in the dark about the premiums paid for allegedly worthless consumer credit insurance, information the bank said could inflate expectations about settlements worth $126 million reached in three class actions.
Westpac has objected to several proposed notices going out to group members in a class action over ‘junk’ consumer credit insurance, which three of the Big Four banks have agreed to pay $126 million to settle.
ANZ and Westpac have failed in their bid for a contradictor to weigh in on a contingency fee bid in two class actions, as the law firm that lost the first ever application for a group costs order tries again.
Three of the Big Four banks have agreed to pay a total of $126 million to settle class actions on behalf of up to one million customers who were sold consumer credit insurance.
A Federal Court judge has recused himself from hearing a fraud trial against Forum Finance, after expressing that he had an “unfavourable” impression of director Vince Tesoriero's reliability as a witness.